Bangladesh's Industry Sector Contribution to GDP
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Questions and Answers

What percentage of GDP was contributed by the broad industry sector in FY 2021-22?

36.92%

What initiatives is the government taking to promote the growth of industrial sectors in Bangladesh?

Synchronized and inclusive initiatives to expand labor intensive and export-oriented industries, fertilizer production, skill manpower generation, and employment.

What is the percentage of GDP contributed by the manufacturing sector in FY 2022-23?

24.95%

What is the second largest foreign exchange earner sector in Bangladesh?

<p>Leather and Leather Goods Industry</p> Signup and view all the answers

What percentage of GDP was contributed by the broad industry sector in FY 2022-23?

<p>37.56%</p> Signup and view all the answers

What is the primary goal of the government's initiatives for the industrial sector?

<p>To become an industrially developed middle-income country</p> Signup and view all the answers

What is the significance of fertilizer production in Bangladesh's industrial sector?

<p>Food security</p> Signup and view all the answers

How many sectors are included in the broad industry sector?

<p>5</p> Signup and view all the answers

What is the target set by the government in terms of exporting from the Leather sector by 2024?

<p>$5 billion</p> Signup and view all the answers

What is the focus of the National Industrial Policy 2016 to achieve industrialization?

<p>Labor intensive industrialization using domestic raw materials and resources</p> Signup and view all the answers

What is the main objective of the National Industrial Policy 2022?

<p>To economically enrich Bangladesh, increase sector wise productivity and achieve excellence in the quality of manufactured products</p> Signup and view all the answers

What is the significance of small and medium enterprises in the government's industrialization plan?

<p>They are the key sector for the growth of industrialization</p> Signup and view all the answers

What is one of the underlying objectives of the Industrial Policy 2016?

<p>Mainstreaming women in the industrialization process</p> Signup and view all the answers

What is the government's vision for industrial growth through the National Industrial Policy 2022?

<p>Sustainable and inclusive industrial growth</p> Signup and view all the answers

Study Notes

Contribution of Industry Sector to GDP

  • The industry sector's contribution to Bangladesh's GDP is increasing, with an estimated 37.56% in FY 2022-23, up from 36.92% in FY 2021-22.
  • The government is taking initiatives to develop all industrial sectors, including manufacturing, fuel, agriculture, forestry, mineral extraction, tourism, and ICT-based industries.

Industry Sector Composition

  • The broad industry sector consists of five sub-sectors: mining and quarrying, manufacturing, electricity, gas, steam and air conditioning, water supply, and construction.

Manufacturing Sector Contribution

  • The manufacturing sector's contribution to GDP is the highest, with an estimated 24.95% in FY 2022-23, which decreased from 24.29% in FY 2021-22.

Leather and Leather Goods Industry

  • The leather and leather goods industry is the second-largest foreign exchange earner in Bangladesh.
  • The government has set a target of exporting $5 billion from this sector by 2024.
  • The Leather and Leather Goods Industry Development Policy 2019 was formulated to achieve this goal and ensure sustainable growth.

National Industrial Policy

  • The National Industrial Policy 2016 aims to accelerate the pace of industrialization in the country.
  • The National Industrial Policy 2022 aims to economically enrich Bangladesh, increase sector-wise productivity, and achieve excellence in manufactured products by embracing the fourth industrial revolution and labor-intensive industrialization.

Objectives of Industrial Policy 2016

  • The policy's objectives include sustainable and inclusive industrial growth, generating productive employment, creating new entrepreneurs, mainstreaming women in the industrialization process, and establishing international market linkages.

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Description

This quiz assesses your understanding of the industry sector's contribution to Bangladesh's GDP, including its growth and government initiatives. It covers various industrial sectors, such as manufacturing, fuel, agriculture, and mineral extraction.

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